Alas Aviation Corp. Appoints Franklin Darrell Richardson as Chief Operating Officer

SNELLVILLE, GA—(Marketwired – Sep 24, 2013) – Alas Aviation Corp. (OTCQB: ALAS), a niche operator of airlines, air cargo, Maintenance Repair Organizations (MRO) and related ground service operators through its operating subsidiary Corporación Ygnus Air, S.A. (“Cygnus”), today announced the appointment of Darrell Richardson as Chief Operating Officer of Alas Aviation Corp., by the Company’s Board of Directors on September 19, 2013.

Darrell Richardson, 67, is a seasoned professional with over forty years of experience in the transportation and aviation industries where he has served in senior executive positions at Piedmont Airlines. Continental Express (“CEX”), Phoenix Airline Services (PAS), Mesaba Airlines, Piedmont Hawthorne Aviation (“PHA”), InterIsland Aviation Services Group (IISG), Victory Park Capital and Silver Airways. Mr. Richardson also served on the Board of Directors of Silver Airways and the Regional Airline Association. He is a past member of the President’s Council of the Regional Airline Association and past board member of the National Air Carrier Association, Pace Airlines and Associated Air Center. He received his undergraduate degree in engineering (BSEE) and a MBA in International Business & Finance from the University of Miami at Coral Gables, Florida.

The Company sees the appointment of Mr. Richardson as a key component to the execution of Alas’ business plan, adding management expertise, focus and depth to its operations. Alas also intends to appoint Mr. Richardson to serve as the Chief Executive Officer of the Company’s next acquired regional commuter airline.

“We are very pleased to move ahead with Darrell in the key role of Chief Operating Officer and we look forward to benefitting from his considerable expertise in the aviation operations arena,” said Arnold Leonora, CEO of Alas Aviation Corp. “He is a great addition to our experienced team of industry veterans,” he continued.

Mr. Richardson said, “I am excited to be on board with Arnold and working with a team that has such dedication and focus. My goals are to work on accretive acquisitions to assist in expanding the Company’s route coverage, global footprint and business lines.”